This was an off-market deal through a coworker and the deal was formalized through an old fashion hand shake.

The more investors you involve the more complexity you'll have and the more likely it will be for you to have conflict with them in some fashion when life unfolds in a manner different than what you expected when you signed the LLC docs. 

I just turned 29, I live in Houston, Tx and I have been buying for large store (fast fashion) retailers for the past 7 years.

@Larry Marshall1) I did mine in 2019 so I don't have experience using the 2020 regulations.2) The majority of R1 lots can accommodate an ADU in some fashion.

Bottom line is if you have other people around you, you are going to have noise in some fashion and there's little you can do about it.

Mailbox money is very nice but I made it the old fashion way -by working hard.

So I've been doing tons of reading on this forum, listening to podcasts, reading articles, and running sample numbers on random homes for practice to get ready for my first STR.But the more I read into it, the more old-fashioned advice there is for going with an LTR.Am I making a mistake for investing in an STR as my first home? 

I graduated over 20 years ago and still a high percentage of the deals I make/partnerships I form are through connections I made in college (and we didn’t even have social media back then, we had to keep in touch after school by calling and emailing each other the old fashioned way).

I also noticed 3 of my kids landlords were immigrants that did it the d fashioned way, they put a lot of money down and the whe family worked on managing the propery, painting fixing collecting rent...This is a good strategy but its like buying a convenience store and working the register every hour its open you can make money but it def not passive.

Has anyone ran into this and if so any pointers or suggestions of banks that are still lending in this fashion?